Spending, debt prompt concern in Franklin County

Full story: Public Opinion

The public is responsible for $9 trillion of U.S.government debt. Pennsylvania faces increased costs of more than $3 billion next year.

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Frederick

Chambersburg, PA

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#44
Nov 7, 2010
 

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LIL JOHN wrote:
<quoted text>
Gee Fred --
What do you call a 3.7 Trillion increase in just 19 months???
To which racist, radical ,leftwing extremists do we attribute that increase to??
deficits compared to Bush!
http://1.bp.blogspot.com/_fjW71B3WLTQ/S8dozbV...
Debt to the minute --- Do you own calculations
http://www.treasurydirect.gov/NP/BPDLogin...
The President of the United States is still paying George Bush's bills. Bush has expensive programs that would not start yielding a cost until after he was out of office. Instead of going down town to eat, he decided the white house needed a $400,000 Chinese buffet installed in it.

Racist, radical, conservative extremists exist at every level of government. From Federal level all the way down to small townships. The President of the United States should order the construction of a very large prison to house these individuals in. The prison will create 100s of jobs for the American public.

Retired United States President Clinton should be consulted for advice on how to tackle this massive problem that does not appear to have an end in sight.
LIL JOHN

Newville, PA

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#45
Nov 7, 2010
 

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Frederick wrote:
<quoted text>The President of the United States is still paying George Bush's bills. Bush has expensive programs that would not start yielding a cost until after he was out of office. Instead of going down town to eat, he decided the white house needed a $400,000 Chinese buffet installed in it.
Racist, radical, conservative extremists exist at every level of government. From Federal level all the way down to small townships. The President of the United States should order the construction of a very large prison to house these individuals in. The prison will create 100s of jobs for the American public.
Retired United States President Clinton should be consulted for advice on how to tackle this massive problem that does not appear to have an end in sight.
Name those programs!!!

You flap your gums like a ducks @@@/

The 'extremist' here is you and your camps!
Dave

Aspers, PA

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#46
Nov 7, 2010
 

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LIL JOHN wrote:
<quoted text>
Gee Fred --
What do you call a 3.7 Trillion increase in just 19 months???
To which racist, radical ,leftwing extremists do we attribute that increase to??
deficits compared to Bush!
http://1.bp.blogspot.com/_fjW71B3WLTQ/S8dozbV...
Debt to the minute --- Do you own calculations
http://www.treasurydirect.gov/NP/BPDLogin...
1) Bush recession created the need for stimulus spending

2) Near financial collapse created the need for TARP

3) The massive job losses caused by the Bush recession cete the need for unemployment extensions & pushed people into medicaid & other government programs

4) The Bush recessions caused huge dereases in government revenues.

5) Iraq War

6) Afghanistan War

7) Unfunded Bush Tax Cuts

Name one Obama initiative not tied into stimulus type spending, Tarp, or helping those unemployed that supposedly cost all of this money.

Instead of blaming Obama, blame the same freakin idiots you voted for on Tuesday
Dave

Aspers, PA

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#47
Nov 7, 2010
 

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LIL JOHN wrote:
<quoted text>
Frank admits jisd mistakes --- admitted that it had been a mistake to force homeownership on people who could not afford it.
A Government-Mandated Housing Bubble
Peter J. Wallison and Edward J. Pinto, 02.16.09, 12:01 AM EST
Subprime enablers: Fannie, Freddie, HUD and Barney Frank.
There is very little doubt that the underlying cause of the current credit crisis was a housing bubble. But the collapse of the bubble would not have led to a worldwide recession and credit crisis if almost 40% of all U.S. mortgages--25 million loans--were not of the low quality known as subprime or Alt-A.
In a recent meeting with the Council on Foreign Relations, Barney Frank--the chair of the House Financial Services Committee and a longtime supporter of Fannie and Freddie--admitted that it had been a mistake to force homeownership on people who could not afford it. Renting, he said, would have been preferable. Now he tells us.
Shortly thereafter, Fannie Mae, under Chairman Jim Johnson, made its first "trillion-dollar commitment" to increase financing for affordable housing. What this meant for the quality of the mortgages that Fannie--and later Freddie--would buy has not become clear until now.
On a parallel track was the Community Reinvestment Act. New CRA regulations in 1995 required banks to demonstrate that they were making mortgage loans to underserved communities, which inevitably included borrowers whose credit standing did not qualify them for a conventional mortgage loan.
http://www.forbes.com/2009/02/13/housing-bubb...
That should put an end to your lies once and for all!
If CRA loans are the causer, show me the statistics where the percent of failed CRA loans is higher than the percentage of CRA loans with all home loans.
Local

Chambersburg, PA

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#48
Nov 7, 2010
 

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The US is in the terminal phase of its existence. The amount of debt owed at all levels, public and private, is staggering. How did we get in this mess? The voters at levels from the common man to Wall St. bankers have ask for (and paid for via campaign contributions) the "hand outs." They got them and the resultant debt. This is not a Republican or Democrat phenomenon or the fault of Bush or Obama. This approach has been going on for many years in the US and is the fault of all of us greedy people. Our standard of living is going to fall dramatically for years. We cannot save ourselves by printing money and we cannot earn our way out anytime soon with the business structure that exists. Much is going to have to change if we are going to save our country. Will require huge sacrifices and much work by all of us. Good luck to all of us.
LIL JOHN

Newville, PA

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#49
Nov 7, 2010
 

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Dave wrote:
<quoted text>
If CRA loans are the causer, show me the statistics where the percent of failed CRA loans is higher than the percentage of CRA loans with all home loans.
Your BS indicatew that you didn't bother to read the artiocle and are simply flapping your gums like a true gadfly!
Read the article then report back!

here's a hint of what to look for!!

These sums would have swamped originations by the traditional subprime lenders, which probably totaled $119 billion in these two years. Data for Alt-A loans before 2005 are unavailable, but the fact that that Fannie and Freddie now hold 60% of all outstanding Alt-A loans provides a strong indication of the purchases they were making for many earlier years.

CRA is a subprime loan by the way!

The reason that the most recent bubble created a worldwide financial crisis is that it was inflated with low-quality loans ''''required by government mandate''''.

And who precisely did the mandating in government>????
HMMMM ????

If you can't take the time to read the source don't bother to comment!
imsurroundedbymo rons

Chambersburg, PA

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#50
Nov 7, 2010
 

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Dave wrote:
<quoted text>
Oh yes, the old CRA excuser.
Its not my fault I turned in to a alcoholic druggie gambler. Its all because I bought a lottery ticket. Its the Stare's fault.
I have news, the program about which you speak called for banks to use a percent of their profits to lower the loan rate or downpayment so some people who couldn't quite afford the standard rates, could buy homes. The fact is they still had to show they could pay the loans back.
They banks fought this tooth & nail. So how did this translate into handing out $450,000 mortgages to people making $75K? Greed, Greed Greed. Both the the mortgage sellers, the home buyers, the security companies that sold the mortgage backed securities.
So, it's ok for you to blame everything on the last guy to hold the job, but when someone blames a democrat that's a low blow. Dave, until you realize that ALL politicians are only out for themselves you will not be ready to help effect meaningful change in this country. And until people are no longer able to vote their own entitlements, we will continue to circle the drain.
imsurroundedbymo rons

Chambersburg, PA

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#51
Nov 7, 2010
 

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LIL JOHN wrote:
<quoted text>
Your BS indicatew that you didn't bother to read the artiocle and are simply flapping your gums like a true gadfly!
Read the article then report back!
here's a hint of what to look for!!
These sums would have swamped originations by the traditional subprime lenders, which probably totaled $119 billion in these two years. Data for Alt-A loans before 2005 are unavailable, but the fact that that Fannie and Freddie now hold 60% of all outstanding Alt-A loans provides a strong indication of the purchases they were making for many earlier years.
CRA is a subprime loan by the way!
The reason that the most recent bubble created a worldwide financial crisis is that it was inflated with low-quality loans ''''required by government mandate''''.
And who precisely did the mandating in government>????
HMMMM ????
If you can't take the time to read the source don't bother to comment!
Don't waste your breath, Dave doesn't believe anything that isn't spoken by Dave.
LIL JOHN

Newville, PA

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#52
Nov 7, 2010
 
imsurroundedbymorons wrote:
<quoted text>Don't waste your breath, Dave doesn't believe anything that isn't spoken by Dave.
LOLOL That would be his renowned 'echo chamber'>LOLOLL
LIL JOHN

Newville, PA

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#53
Nov 7, 2010
 
Dave wrote:
<quoted text>
1) Bush recession created the need for stimulus spending
2) Near financial collapse created the need for TARP
3) The massive job losses caused by the Bush recession cete the need for unemployment extensions & pushed people into medicaid & other government programs
4) The Bush recessions caused huge dereases in government revenues.
5) Iraq War
6) Afghanistan War
7) Unfunded Bush Tax Cuts
Name one Obama initiative not tied into stimulus type spending, Tarp, or helping those unemployed that supposedly cost all of this money.
Instead of blaming Obama, blame the same freakin idiots you voted for on Tuesday
'''Name one Obama initiative not tied into stimulus type spending, Tarp, or helping those unemployed that supposedly cost all of this money.'''

1.4 trillion obamacare!!! Oh and BTW the CBO says that in a 'full decade', not the pay for 4 years before it even starts, that krap will cost over 2 trillion dollars....

Car bailouts , I mean union bailouts, cash for clunkers....etc. like counting ants in Africa , hooker studies in china, waste/porkulus!

Do you have selective memory deficits
About Time

Mercersburg, PA

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#54
Nov 8, 2010
 

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Both political parties are corrupt!!! 1)Congress will be needing to raise the Debt Ceiling in the next couple of months. 2)The Federal Reserve currently is not subject to audit by anyone. These two statements need political action. The Federal Reserve is one of the cornerstones in this mess. Where are the checks & balances? An increase in the Debit Ceiling should include full audit of the Federal Reserve by Congress. This audit should be made public info within 6 months. We as a society must get involved to get out of this mess. At least Allen Piper & his group are doing something. The rest of you are just sheep being lead to slaughter.
About Time

Mercersburg, PA

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#55
Nov 9, 2010
 
Apparently "Dave" agrees LOL
For the people

Waynesboro, PA

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#56
Nov 13, 2010
 
Absolutely wrote:
<quoted text>
Amen!! I say let's throw the bums out of office!!
I agree with you absolutely, Absolutely. I'm writing in Bill Landis's name for County Commissioner. He tells the truth and these weenies attack him for it. We need people like him in the state legislature, too. From the talk I'm hearing he is a favorite here in Mercersburg. Run, Bill, run !!!!
Dave

Aspers, PA

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#57
Nov 13, 2010
 
About Time wrote:
Apparently "Dave" agrees LOL
I chose to ignore.
Dave

Aspers, PA

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#58
Nov 13, 2010
 
LIL JOHN wrote:
<quoted text>
'''Name one Obama initiative not tied into stimulus type spending, Tarp, or helping those unemployed that supposedly cost all of this money.'''
1.4 trillion obamacare!!! Oh and BTW the CBO says that in a 'full decade', not the pay for 4 years before it even starts, that krap will cost over 2 trillion dollars....
Car bailouts , I mean union bailouts, cash for clunkers....etc. like counting ants in Africa , hooker studies in china, waste/porkulus!
Do you have selective memory deficits
If we are paying for it before it starts, how does it count as an expenditure? Make up your mind.

The Healthcare reform bill is paid for & does not add to the deficit.

Cash for Clunkers is a stimulus type expenditure. Another Bush related expense. Why did we have to save the auto industry? Was it the recession causes auto sales to plunge?

Wring answers. Where is that huge expenses not tied to the Bush recession or the Bush near financial collapse?
Dave

Aspers, PA

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#59
Nov 13, 2010
 
imsurroundedbymorons wrote:
<quoted text>So, it's ok for you to blame everything on the last guy to hold the job, but when someone blames a democrat that's a low blow. Dave, until you realize that ALL politicians are only out for themselves you will not be ready to help effect meaningful change in this country. And until people are no longer able to vote their own entitlements, we will continue to circle the drain.
The recession & near financial collapse both fomented under the previous administration.

I have no problem blaming a Democrat id it is their fault.

To blame the deficit spending on Obama when his actions were directed by economic theory to correct a Bush fostered problem.
Dave

Aspers, PA

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#60
Nov 13, 2010
 
LIL JOHN wrote:
<quoted text>
Your BS indicatew that you didn't bother to read the artiocle and are simply flapping your gums like a true gadfly!
Read the article then report back!
here's a hint of what to look for!!
These sums would have swamped originations by the traditional subprime lenders, which probably totaled $119 billion in these two years. Data for Alt-A loans before 2005 are unavailable, but the fact that that Fannie and Freddie now hold 60% of all outstanding Alt-A loans provides a strong indication of the purchases they were making for many earlier years.
CRA is a subprime loan by the way!
The reason that the most recent bubble created a worldwide financial crisis is that it was inflated with low-quality loans ''''required by government mandate''''.
And who precisely did the mandating in government>????
HMMMM ????
If you can't take the time to read the source don't bother to comment!
An opinion piece by two right wing people. One a banker. Of course its not the bank's fault. Nooooooooooooooooo.
karin smith

United States

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#61
May 29, 2011
 
JEB wrote:
Brendan, imagine that a Shippensburg University professor being for more stimulus spending. Maybe you should join the ranks of the retired!
well, brendan, I always thought you knew exactly what you were talking about....thirty years ago or today....you were exactly right....

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